PRC In the News
Teamsters look to fight pension cuts
Retired Teamsters fear it will take no less than an act of Congress to undo an act of Congress. Former Morning Glory Dairy employees are among the nearly 40,000 Wisconsin Teamsters who face a 50 percent cut to their pensions under a 2014 law aimed at keeping large pension funds solvent.
Take a lump sum? It applies to Powerball and pensions.
Take the lump sum? Or settle on the slow-but-steady monthly payout? No, we’re not talking about winning a Powerball jackpot or some other winning lottery ticket. We’re talking about what to do if your company or former employer actually has a traditional pension, not just a 401(k) plan, and offers you a lump sum if you […]
Is the Pension Benefit Guaranty Corp. worth propping up?
U.S. multiemployer pension plans disagree about the value of participating in the cash-strapped federal agency’s insurace program.
State-Run IRAs May Offer a New Retirement Plan Option
According to the Pension Rights Center, half the states in the nation are discussing the possibility of creating state-run IRAs for workers at small businesses.
Triangle Wire pension fight resolved for 14 former employees
Former employees of Triangle Wire & Cable Co. are finally receiving lost pensions and benefits after more than a year of negotiations. The Boston-based advocacy group New England Pension Assistance Project, represented the former employees.
Senate passes church pension plan clarifications
Pension Rights Center Director Karen Ferguson is worried that the legislation, if passed, could nonetheless have a negative effect on litigation filed by church plan participants.
Appeals court upholds ruling denying church-plan status for health-care system
Karen Ferguson, director of the Pension Rights Center, called the decision “a terrific victory for thousands of orderlies, cafeteria workers, nurses and others who were told throughout their careers at Saint Peter’s that they were fully protected by federal law.”
Teamster activist remembered as member’s president
Friends and peers remembered Estil “Butch” Lewis Jr. as an honest, valiant leader whose humility eclipsed his love for his job.
The 2015 Pension 40: Karen Ferguson and Karen Friedman
“The challenges to retirement security today we couldn’t have imagined 40 years ago,” says PRC director Ferguson.
The 2015 Pension 40: The Long Climb
The struggle over the fate of defined benefit pensions continues to dominate the Institutional Investor’s annual ranking of the 40 most important people in pensions.
Teamster Retirees Demand Trustees ‘Stop the Rush’ to Slash Pensions in Half
They thought their pensions were secure—but now they’re fighting to keep them. Retired and active Teamsters in 25 states from Florida to Minnesota received notice this fall that their pensions could be cut by as much as 60 percent, beginning July 1.
1 Million Affected by De-Risking in 5 Years, PBGC Says
More than a million defined benefit plan participants in larger plans were affected by pension de-risking activities from 2009 through 2013, and more than half of those were involved in 2012 transactions, the Pension Benefit Guaranty Corporation said in a report.
